Ecobonds Offer Direct Investment in RenewablesAt least that's what UK renewable energy pioneers Ecotricity are hoping. They already issued one hugely successful round of Ecobonds which offered their customers and other clean energy advocates competitive interest rates, while they were able to borrow at less than the bank would lend to them. As we discussed in our live chat with Ecotricity founder Dale Vince, that money was put to good use building one of Britain's first solar parks, as well as wind turbines at a Ford factory and a solar panel manufacturer.

Now the company is issuing a second round of Ecobonds, and is guaranteeing that the money will be put to immediate use building wind turbines and clean energy infrastructure:

Ecotricity has a strong pipeline of new green energy projects including 19 windmills with planning approval, waiting to be built – and a further 78 windmills for which it is seeking planning approval (that's enough to power over 100,000 homes) – and a target of having over 200MW of operational capacity in the next five years. It also intends to increase its investment in other renewable energy technologies, including wave-power and green gas made from organic waste. Proceeds from ecobond two will be spent in 2012, alongside money from customer’s bills, building the 19 windmills that already have planning permission – increasing Ecotricity’s green energy generation by 50%.

Ecobond Two is open for applications until Friday 16th December. Applicants must be UK residents, and there is a minimum £500 investment. Ecobonds will pay a gross annual interest rate of 6%, or 6.5% for Ecotricity customers.